PLEASE ANSWER QUESTIONS $13-15.$ Question $13($Mandatory$)(1$ point$)$

A bank account used by mortgage lenders for the safekeeping of the funds accumulating to pay next year's property taxes and hazard insurance is called an escrow account.

True

False

Question $14($Mandatory$)(1$ point$)$

For an adjustable rate mortgage $($ARM$),$ the amount of time between one rate change and the next, usually between one, two, or three years, is referred to as the adjustment period.

True

False

Question $15($Mandatory$)(1$ point$)$

A discounted rate for the first adjustment period of an adjustable$-$rate mortgage that is below the current market rate of interest is called the prime rate.

$$ True

False